Why "free" products aren't actually free
The IRS treats gifted products the same way it treats cash: if you received something of value because of your influence, in exchange for a post, a tag, a story mention, or even just "in case you want to feature it," that's barter income. The fair market value (what the item would sell for retail) gets added to your gross income for the year, whether or not you ever posted about it.
The test isn't whether a contract exists. It's whether there was an expectation of promotion attached to the product. A brand that mails you a $300 skincare set hoping you'll post a story is functionally paying you $300. The IRS doesn't care that no invoice was issued or that you never signed anything.
Where it gets reported
Gifted products used for content are business income, so they go on Schedule C alongside your brand deal cash, affiliate commissions, and platform payouts. You estimate the fair market value (what a buyer would pay for it new) and add it to gross receipts. If the brand later sends you a 1099-NEC or 1099-K that includes the item's value, you're just confirming a number you should have already tracked.
On the deduction side, once you've recognized the item's value as income, you may be able to deduct it as a business expense if it's something you use for the business (a ring light, software subscription, camera gear). That often nets out close to zero tax impact for pure props, but it does not net to zero for anything with lasting personal use, like clothing, skincare, or a gadget you keep after the campaign ends.
When gifts might not be taxable
There's a narrower category: unsolicited products sent with genuinely no strings, no ask, no tag request, no affiliate link, nothing. If a brand mails you something at random with a note that says "no obligation to post," the IRS's general gift rule (gifts aren't taxable income to the recipient) can arguably apply. But this is a thin defense if you're a working creator and the brand's whole business model is seeding product to influencers for exposure. In practice, most PR mailers, affiliate program freebies, and campaign product boxes are compensation, not gifts.
What to actually do
Keep a running log every time you receive a product for content: the brand, the item, its retail price, and whether you posted about it. At tax time, total the fair market values and add them to your Schedule C income. If you're unsure whether an item counts, the safer move is to include it. Underreporting barter income is a common audit trigger for creators who get 1099s from affiliate networks that also track gifted product value.